The economic dangers of Britain’s exit from the European Union are probably exaggerated. The U.K.  is in a bit of trouble, since falling real estate prices might spark a recession there. But it seems unlikely that the spillover to the global economy will be severe. British trade policy probably won’t change much, and extremists in…

A month before the Brexit vote, the Ipsos Mori polling firm discovered that the British public was systematically misinformed. For instance, Leave voters believed that EU immigrants comprise 20 per cent of the UK’s population. Remain voters estimated 10 per cent. The truth is about 5 per cent. Both Leave and Remain voters vastly overestimated…